The next time you are in a situation where you don't quite know the language of VC's, drill down (another VC buzz phrase) for specifics. Don't be afraid to ask what business level would make your company a viable investment candidate.

However, even if the feedback is positive, don't count on early indications of interest from any fund manager. By the time you reach certain operating milestones, the manager could be working at another VC fund or the fund could be fully invested. So, it's best to keep networking until money is wired into your bank account.

Raising money is a process. It takes time, but with patience and persistence you can reach your funding goals.

Fortunately, the question you ask has been tested in the courts. In each case, employers have maintained the right to ask job applicants if they smoke, and presumably, favor non-smokers over smokers in hiring decisions.

According to Thao Tiedt, an employment law partner at Ryan Swanson & Cleveland, smoking is not a protected employment category so you can ask during interviews if an applicant smokes. Companies of any size can also institute a policy against hiring smokers; of course, at the risk of overlooking some exceptionally well qualified job applicants.

It is interesting to note that at the same time smokers believe their lifestyle rights have been infringed by the increasing number of work and social venues where smoking is not permitted; non-smoking co-workers complain the opposite is true. Smokers receive preferential treatment to the extent employers allow them to take longer or more frequent breaks than non-smokers.

The best way for companies to "clear the air" about sensitive work place issues is to clearly define work rules in employment manuals or other internal communications. Enforcement should also be consistent meaning smokers who work in an administrative role, for example, should not receive more smoking break opportunities than smokers who work on a plant floor.